LOS ANGELES – Pacific Avenue Capital Partners, LLC (“Pacific Avenue”), a private equity firm strategically focused on corporate divestitures within the middle market, has officially announced the final closing of its first fund, Pacific Avenue Fund I, L.P. (the “Fund”). Demonstrating strong investor confidence, the Fund was significantly oversubscribed, reaching its hard cap with total commitments exceeding $500 million.
The Fund has attracted a diverse and prominent group of global investors, including insurance companies, consultants, endowments, foundations, funds of funds, family offices, and individual investors. This diverse investor base underscores the broad appeal of Pacific Avenue’s investment strategy and its experienced team.
Since its inception, Pacific Avenue Capital Partners has carved a niche for itself by concentrating on corporate divestitures and navigating complex situations within the middle market landscape. The firm’s deep-seated expertise in mergers and acquisitions (M&A) and operational management enables it to effectively manage intricate transactions and unlock value in acquired businesses.
“We extend our sincere gratitude to our investors for their enthusiastic support of the Pacific Avenue team and our vision. We are honored by their commitment and trust,” stated Chris Sznewajs, Managing Partner and Founder of Pacific Avenue Capital. “This Fund empowers Pacific Avenue to further our focus on corporate divestitures and other complex scenarios, driving significant value creation for all our stakeholders.”
The Fund has already made substantial progress, completing a platform investment in Sunrich Products. Furthermore, Pacific Avenue has entered into an agreement to acquire its second platform, Resin Solutions, with the transaction anticipated to close in the second or third quarter of 2023. These initial investments highlight Pacific Avenue’s proactive approach and ability to execute its investment strategy effectively.
Lazard Frères & Co. LLC served as the exclusive placement advisor for the Fund, while Weil, Gotshal & Manges LLP provided legal counsel.
About Pacific Avenue Capital Partners
Pacific Avenue Capital Partners, based in Los Angeles, is a leading private equity firm specializing in corporate divestitures and other complex situations within the middle market. The firm differentiates itself through its extensive experience in M&A and operations, which allows it to expertly navigate complex transactions. Pacific Avenue is dedicated to unlocking value through operational enhancements, strategic capital investment, and the acceleration of growth initiatives within its portfolio companies.
The Pacific Avenue team boasts a strong track record, having collectively closed over 65 transactions, including more than 35 corporate divestitures, across a wide array of industries throughout their careers. Pacific Avenue adopts a collaborative partnership approach, working closely with strong management teams to implement sustainable and strategic change. The firm is committed to supporting businesses in realizing their full potential and achieving long-term success.
For further information about Pacific Avenue Capital Partners, please visit http://www.pacificavenuecapital.com/.
Contacts
Jeff Fox, The Blueshirt Group
[email protected]
415-828-8298
